Adani Green Energy acquires remaining 51 per cent stake in Kodangal Solar Parks

From The Web - India
Typography
Adani Green Energy, Kodangal Solar Parks,  Karnataka, PPA tariff 

Adani Green Energy, Kodangal Solar Parks,  Karnataka, PPA tariff 

KSPPL has Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Ltd. The fixed PPA tariff is Rs 5.48/kWh for a period of 25 years.

Adani Green Energy (AGE) Saturday said it has acquired 51 per cent equity share capital of Kodangal Solar Parks Pvt Ltd (KSPPL) from FS India Devco Pvt Ltd for about Rs 1.69 crore. AGE already held 49 per cent stake in KSPPL. KSPPL was incorporated in August 2015 and has set up 20 MWac solar power project at Bagewadi, Karnataka, AGE said in a BSE filing. “KSPPL stake is acquired with an object of consolidating the company’s interest in KSPPL and within the overall objective of the company. With this acquisition, KSPPL has become wholly-owned subsidiary of the company,” it added.

Also read| 3 key areas that will drive growth in India’s logistics sector in 2019

KSPPL has Power Purchase Agreement (PPA) with Bangalore Electricity Supply Company Ltd. The fixed PPA tariff is Rs 5.48/kWh for a period of 25 years. The project was commissioned on January 6, 2018. “1,07,100 equity shares of Rs 10 each acquired at Rs 158.04 per shares as per valuation certificate,” the filing said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Advertisement


Read full article on Financial Express - Industry


Advertisement

Translator

Advertisement
Advertisement

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter We Are Coming To Bhubhaneshwar, Mumbai And Kolkatta - https://t.co/nuk4A015hG
Tuesday, 12 March 2019 10:46
SolarQuarter Women Leaders  of 2019 In Solar Sector_Celebrating Achievements & Recognizing Excellence - https://t.co/blQxC1HEgd
Friday, 08 March 2019 10:14
SolarQuarter 40 Under 40 - India's 40 Most Promising Solar Business Leaders - https://t.co/7cHgPguhDQ
Tuesday, 05 March 2019 09:57

Advertisement